As part of their efforts to expand their collaboration in the energy transition, India and Italy decided to investigate the development of green hydrogen, the establishment of renewable energy corridors, and collaborative natural gas projects.
As it transforms into a low-carbon economy, India set an ambitious goal of constructing capacity to generate 450 gigawatts of electricity from renewable sources such as solar and wind and more than doubling the amount of natural gas in its energy basket to 15% by 2030.
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As part of its energy transformation strategy, it is also considering ramping up hydrogen generation from all sources, notably green hydrogen. A joint working group will be charged under the Memorandum of Understanding on Collaboration in the Field of Energy, signed in Delhi on October 30, 2017, to study cooperation in smart cities, mobility, and smart-grids, according to the joint statement.
They acknowledged that bilateral relations had improved significantly after the November 6, 2020 approval of the Action Plan for an expanded Partnership between India and Italy (2020-2024).
They pledged to deepen collaboration in the strategic areas covered by the Action Plan, including the cross-cutting problem of speeding the clean energy transition to combat climate change, which is a major focus of both the G20 Leaders’ Summit in Rome and the COP26 in Glasgow.
They also mentioned the India-EU Leaders’ Meeting on May 8, 2021, in Porto, when the European Union and India emphasised the need of solving the interconnected concerns of climate change, biodiversity loss, and pollution.
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The two leaders agreed to expand their cooperation to speed up the deployment of renewable energy, including innovative renewable technologies like offshore wind energy and maximising the potential of green hydrogen, promoting energy efficiency, developing smart grids and storage technologies, and modernising the electricity market.
